"The lawsuits filed against Navient, the largest collector of student loan payments in the United States, accuse it of the kinds of misleading tactics and sloppiness that emerged in the mortgage market after the financial crisis. And they are aggravated by a student loan crisis — student loan debt has surged to $1.4 trillion, eclipsing the totals for auto loans and credit cards. Navient has tremendous power and leeway in shepherding struggling borrowers through the process of either capping their monthly payments or finding ways to reduce them, but the lawsuits say that it opted to steer clients toward options that were simpler for the company. As a result, it could face years of lawsuits, unless it agrees to settle. “Every single one of the borrowers who is having their loan serviced by Navient or one of Navient’s companies is a borrower that’s impacted,” said Lisa Madigan, the Illinois attorney general, who filed one of the state cases. “If you’re looking to put a price tag on that, it’s billions of dollars.” "